Answer:
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Explanation:
Herjólfsson later sold his ships to Ericson, who sailed west intentionally and was not blown off course trying to reach Greenland after meeting King Olaf, as in the
Saga of Eric the Red
. With wood being in very short supply in Greenland, the settlers there were eager to explore the riches of this new land. Ericson explored this coast and eventually established a short-lived colony in what he called Vinland.
The delegates compromise was the great compromise (also known as the new jersey plan) in which the house would be divided into the house of representatives where the number of representatives would be based on population and the senate where each state would be given 2 representatives. This led to the problem of slaves and such the 3/5 compromise was born where a slave counted as 3/5 of a person.
access to a larger market
This is a benefit of economic globalization since it will open up a wide range of national, regional, and a lot of other markets in which resources, goods, and services as well as information are free-flowing. Every market will therefore have access to the products of various other markets in the whole world.
loss of jobs in developed countries
Economic globalization has led to an improvement in the developing countries. Unfortunately, this had a negative effect on the jobs already available in the developed countries since the decrease of poverty in other developing countries would cause some immigrants to leave their jobs in the developed countries to go back to their homelands, where significant improvement is already seen.
This is therefore a cost of economic globalization.
depletion of natural resources
Economic globalization would encourage markets to produce a lot more compared to the usual situation since they can export their resources to other markets in various places of the world. This would then lead to some markets specializing based on what they have, causing them to utilize their natural resources more frequently.
Depletion of natural resources is therefore a cost of economic globalization.
increase in production of goods
Because of the free-flowing marketplace of goods and services brought by economic globalization, most markets would see a significant increase in the demand of their products. This will lead them to increase their production to meet that demand. Since they can freely export these goods, increasing the production would yield them more profit than usual, thus this will be a benefit of economic globalization.
